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Posted Fri, 03 May 2024 14:47:36 GMT by Ekip2024
Dear HMRC support team, I am a French national now UK resident. I opened a French life insurance policy when I was still in France and added money gradually over time (which I understand means that the policy has been varied). I've kept this policy in place after becoming a UK resident. Earlier this year (23-24 tax year), I closed and fully redeemed the funds and would like to know how much of the gain I need to disclose. I understand time apportioned reduction might apply given i wasn’t a UK tax resident for the whole life of the policy, but am not sure about the calculation and whether this applies given the policy has been varied (additional premium). Could you kindly advise on that? Many thanks, 

Name removed admin .
Posted Mon, 13 May 2024 10:28:47 GMT by HMRC Admin 32 Response
Hi,

Please refer to guidance at:

HS321 Gains on foreign life insurance policies (2024)

Thank you.

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